Is Turkish Pharmaceutical Sector Promising for Foreign Investors?

Down below you will find a short evaluation from a top executive in the sector as to if the pharmaceutical industry in Turkey is promising for the future.

Q: Do you consider Turkish market to be attractive for foreign companies.

A: If we should talk about mid term and long term prospects, the answer would be “YES” due to below reasons.

Turkey is 6th-7th in Europe in terms of GDP and 17th in the world now. Apparently, Turkey has surpassed many EU countries and is performing very close to emerging markets like China.

Drug spending per capita in Turkey is very low at the moment meaning it can and will improve a lot.

In parallel to the long term strategy of the Turkish Government an annual GDP growth of 7% is expected in the next 10 years which would certainly have a considerable positive impact on health care spending.

On the other hand the population of Turkey is increasing very fast and the country will have an aging population in the next ten years.

One important point is patients are fully reimbursed by the government which in return contributes to the buying power in a most positive manner.

Another point is Turkey has been considered to be most attractive for some time due to the political and economic stability in the country. This has certainly been a factor to minimize the impact of the global crisis which has hit some major countries badly.

To recap all these factors make Turkey an attractive market for investment (like with most sectors anyway) for the coming years, in specific.

Editor
BUSINESS TURKEY TODAY